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More supply of homes will ease prices?

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abbby
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More supply of homes will ease prices?

Post by abbby » Sun, 09 Jul 2023 9:01 pm

More supply of new homes will ease prices?

No, I don't think so. More demand also cause prices to rise. Also, recent buyers who bought will want to hold up prices. So do those who have owned them for longer periods. I think with the influx of foreigners, those getting PR and citizenships, are also buying into houses, so unlikely prices will ease.

Now...if only I had bought more houses in the earlier years... I could have retired by now. ](*,) ](*,)
Remembering how Ardmore Park was $4m+. It's now $12m... =D>
The secret of life is honesty and fair dealing. If you can fake that, you've got it made. - Groucho Marx (1890-1977)

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jalanjalan
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Re: More supply of homes will ease prices?

Post by jalanjalan » Mon, 10 Jul 2023 10:45 am

HDB resales in my area have dropped by about 100-200k, according to the flyers stuffed in my door every morning. It's still more than a half mil for a 4 room, and I live in the 'cheapest' resale neighbourhood. Not sure if that's due to increase in supply or just wild prices stabilising.

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malcontent
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Re: More supply of homes will ease prices?

Post by malcontent » Wed, 12 Jul 2023 12:02 am

If prices have started to moderate, I have to believe it is affordability of payments given how high interest rates are at the moment. I just got my latest interest rate adjustment and it has now ticked up to 4.2%. My mortgage payments has risen similar to what rents have done. It’s now back above half of my monthly take home pay… but I’ve experienced worse.
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